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What procedures do you need to pay the mortgage in advance

What procedures do you need to pay the mortgage in advance

If you buy a house by mortgage, you will agree with the bank a certain repayment period. If you have the financial ability to repay the loan in advance, you can, but you may need to pay a certain amount of liquidated damages. So, what procedures do you need to repay the mortgage in advance? Xiaobian has sorted out the following contents for you to answer questions and solve doubts, hoping to help you.

The process and method of prepayment are as follows:

1. First, check the requirements of early repayment in the loan contract, and pay attention to whether there is a certain penalty for early repayment.

2. Call the lending bank for information on the application time and minimum repayment amount for prepayment.

3. According to the requirements of the bank, I personally went to the relevant departments to apply for prepayment.

4. The borrower shall bring relevant certificates to the borrowing bank to handle the relevant procedures of prepayment.

5. Submit the prepayment application form and deposit the prepayment amount at the counter.

What are the procedures to be handled after repayment in advance?

1. Release of house mortgage

Have complete property rights. The borrower should take the house property certificate, settlement certificate and other right certificate of mortgage in the bank to the district housing and Construction Commission Office to understand the mortgage. Only in this way can we say that our real estate is completely our own property.

The buyer can bring the house ownership certificate (original), other rights certificate (original), Party's identity certificate (original and 1 copy), mortgage registration cancellation Certificate (original) issued by the mortgagee, mortgage registration application form and other materials to the corresponding window of the housing authority.

2. Apply for surrender

After the borrowers repay all the loans in advance, the original housing insurance contract of individual housing loan is terminated in advance. According to the relevant regulations, the borrower can bring the original of the insurance policy and the certificate of repayment of the loan in advance to the insurance company to refund the premium paid in advance monthly.

To repay the loan in advance and return the insurance premium, the actual period of the insurance premium of the house purchased in advance (the insurance period of the house purchased in half a year or more is generally calculated by subtracting one year from the loan period), the discount rate and quick calculation coefficient of the original one-time payment premium, etc. should be considered. The calculation formula is: refund the insurance premium of the loan in advance = the amount of the paid insurance premium at the time of early repayment Present value - the present value of the occupation premium at the time of early return.

3. Go through tax refund procedures

When you buy a commercial house, you should write all the family members who can be refunded into the house purchase contract as the real estate obligee, and after signing the contract and paying the house price, you should apply for the deduction of the tax base of the individual income tax paid by the buyer, and obtain your own general tax payment certificate. After repaying all the housing loans in advance, you can obtain the real estate certificate. You should go to the tax department to handle the tax refund procedures within 6 months after completing the real estate right certificate.